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Deals & People February 29, 2012
J.P. Morgan Reorganizes Sales Force
J.P. Morgan Asset Management completed a reorganization of
its Retirement Plan Services sales force to be fully aligned with retirement
plan advisers.
Reported by Corie Russell
The sales and service teams dedicated to retirement plans up to $500 million were previously organized around market segments, but are now geographically organized around advisers.
“We believe this new sales structure will help us better serve the retirement plan adviser community and our mutual clients,” said David Musto, chief executive officer of J.P. Morgan Retirement Plan Services. “This is part of a broader effort to build out thought leadership and resources for advisers, who we think are instrumental in working with plan sponsors to improve individual retirement outcomes.”
The reorganization will help J.P. Morgan continue to deliver ideas to advisers, such as the recently launched Core Menu Innovation concept, which advocates for reforming the 401(k) plan core menu lineup to simplify investment choice and improve retirement outcomes (see “JPMAM Rethinks Core Investment Lineup”).
The reorganization also complements the focus of J.P. Morgan’s Defined Contribution Investment Solutions (DCIS) business, which partners closely with retirement plan advisers to offer tools, expertise and investment solutions.